schedule A?

[toomany]

I am waiting for my first silencer and had to go back to the dealer and fill out a Schedule A form. when I asked what it was for they didn't know just said it is what the NFA requires. Any help?

[Juan916Ebay]

Is your suppressor on a trust

[toomany]

It is on a trust. I have been waiting for my approval since my wife bought it for me back in november for my birthday. The dealer stated after I filled out the schedule A it should only be 2-3 weeks until I get my silencer. I tried looking stuff up online about it and only came up with a few things. I thought it was funny that even the dealer didn't know what it was for. I asked why it had a pre typed answer on the trust that stated it had $10 in it. it seems like the wording and the $ amount validates the trust until after I get my approval from the NFA. Is this your understanding of the schedule A?

[Bendersquint]

It is on a trust. I have been waiting for my approval since my wife bought it for me back in november for my birthday. The dealer stated after I filled out the schedule A it should only be 2-3 weeks until I get my silencer. I tried looking stuff up online about it and only came up with a few things. I thought it was funny that even the dealer didn't know what it was for. I asked why it had a pre typed answer on the trust that stated it had $10 in it. it seems like the wording and the $ amount validates the trust until after I get my approval from the NFA. Is this your understanding of the schedule A?

Unfortunately most dealers know very little about what happens in the NFA process which surprises me greatly....how can you know so little about the business you are in?

If your dealer was up on things he should have had you submit the Schedule A WITH the NFA item already assigned to it with the original application, then you wouldn't be worrying about this right now.

[pneumagger]

I've always submitted my Schedule a With the new item on it and never any problems. But this last time I was extra paranoid since I was submitting for two items and REALLY didn't want anything kicked back... I submitted the "Prior Schedule A" without the items of concern and am all inclusive "Post Approval Schedule A" both labelled with sticky notes. LOL, the examiner is going to think I have OCD or something.

[Bendersquint]

I've always submitted my Schedule a With the new item on it and never any problems. But this last time I was extra paranoid since I was submitting for two items and REALLY didn't want anything kicked back... I submitted the "Prior Schedule A" without the items of concern and am all inclusive "Post Approval Schedule A" both labelled with sticky notes. LOL, the examiner is going to think I have OCD or something.

Your examiner will probably be refreshed as you are making their job easier and that you won't be another problem child for them to deal with.

[jmhallrn]

Please forgive my ignorance, but what is a Schedule A?

[Libertarian_Geek]

Please forgive my ignorance, but what is a Schedule A?

A trust's schedule documents are documents listing of property owned by a trust. There may be multiple schedules depending on how complex your trust is and how its written up. Most folks just have one (A), but some have multiple (A,B,C,etc.) to denote different designations of property that were assigned to the trust by different individuals, etc, or showing how items should be divided by heir.

[jmhallrn]

Ahhh.....gotcha. That would be the "assignment sheet" in my trust. Thanks for clearing that up, LG.

[Libertarian_Geek]

Ahhh.....gotcha. That would be the "assignment sheet" in my trust. Thanks for clearing that up, LG.

It's somewhat different from the assignment sheet (in my limited understanding), as the assignment sheet is the document used to "assign" items to your trust. The schedules can be thought of as your trust's registry of items.

[rchrds]

So a follow up to this question- I am about to do my first NFA purchase to my trust- does my Schedule A with all of the items (lots of non-NFA guns) on it really go with the Form 4? That seems like something that is tantamount to registration for all of the non-NFA guns.

Of course, I'm already registering with the NFA item.

[Bendersquint]

So a follow up to this question- I am about to do my first NFA purchase to my trust- does my Schedule A with all of the items (lots of non-NFA guns) on it really go with the Form 4? That seems like something that is tantamount to registration for all of the non-NFA guns.

Of course, I'm already registering with the NFA item.

Yes, your complete Schedule A needs to do, the Schedule A is an inventory........why wold you omit things?

This is why you SHOULDN'T put anything but NFA in your trust. Remember it is your CHOICE to have all your guns in one trust, and as a result of your CHOICE you must submit your inventory.

[johndoe3]

Yes, your complete Schedule A needs to do, the Schedule A is an inventory........why wold you omit things?

This is why you SHOULDN'T put anything but NFA in your trust. Remember it is your CHOICE to have all your guns in one trust, and as a result of your CHOICE you must submit your inventory.

B is right...but

The nice thing about a revocable living trust, is that you can change things any time you want to. For example, if you didn't want the .gov to know about all the non-NFA items in your trust, you could spend 5 minutes using 1 assignment sheet to remove them all from the trust before sending it in. Then the schedule A sent in would not have them on it. After your new NFA item(s) is approved, you can add them all back into the trust in a couple of minutes with a new assignment sheet if you choose to, and add them to the new schedule A. It's not hard at all.

[Bendersquint]

Yes, your complete Schedule A needs to do, the Schedule A is an inventory........why wold you omit things?

This is why you SHOULDN'T put anything but NFA in your trust. Remember it is your CHOICE to have all your guns in one trust, and as a result of your CHOICE you must submit your inventory.

B is right...but

The nice thing about a revocable living trust, is that you can change things any time you want to. For example, if you didn't want the .gov to know about all the non-NFA items in your trust, you could spend 5 minutes using 1 assignment sheet to remove them all from the trust before sending it in. Then the schedule A sent in would not have them on it. After your new NFA item(s) is approved, you can add them all back into the trust in a couple of minutes with a new assignment sheet if you choose to, and add them to the new schedule A. It's not hard at all.

So long as you don't forget to have everything that was on the trust at the last submittal.

This is planned to change in the future to eliminate EXACTLY what you describe.

[yamatitan]

I havent sent the NFA I copy of my updated assignment sheet since like 6 stamps ago. Every time I print it out I used the old one on my computer since I dont feel like updating it. The one in my safe thats the original copy has all the correct updates done. So far it hasnt been a problem I dont think the examiners look in the database and check all your approved stamps and make sure it matches your schedule A.

[Bendersquint]

I havent sent the NFA I copy of my updated assignment sheet since like 6 stamps ago. Every time I print it out I used the old one on my computer since I dont feel like updating it. The one in my safe thats the original copy has all the correct updates done. So far it hasnt been a problem I dont think the examiners look in the database and check all your approved stamps and make sure it matches your schedule A.

They don't but they do perform audits and when they find discrepancies they are dealt with.

[HK45]

I havent sent the NFA I copy of my updated assignment sheet since like 6 stamps ago. Every time I print it out I used the old one on my computer since I dont feel like updating it. The one in my safe thats the original copy has all the correct updates done. So far it hasnt been a problem I dont think the examiners look in the database and check all your approved stamps and make sure it matches your schedule A.

They don't but they do perform audits and when they find discrepancies they are dealt with.

So, in the future the ATF might audit my paperwork and ask for an updated Schedule A?

The reason I ask is that I just had 6 NFA items approved at basically the same time period, but the trust I sent in only listed a one dollar bill to make the trust legal.

Now I do have an updated Schedule A attached to my copy of my Trust, but it has never been sent to the ATF.

Will the ATF ask for an updated Schedule A in the future?

[Bendersquint]

I havent sent the NFA I copy of my updated assignment sheet since like 6 stamps ago. Every time I print it out I used the old one on my computer since I dont feel like updating it. The one in my safe thats the original copy has all the correct updates done. So far it hasnt been a problem I dont think the examiners look in the database and check all your approved stamps and make sure it matches your schedule A.

They don't but they do perform audits and when they find discrepancies they are dealt with.

So, in the future the ATF might audit my paperwork and ask for an updated Schedule A?

The reason I ask is that I just had 6 NFA items approved at basically the same time period, but the trust I sent in only listed a one dollar bill to make the trust legal.

Now I do have an updated Schedule A attached to my copy of my Trust, but it has never been sent to the ATF.

Will the ATF ask for an updated Schedule A in the future?

That is what is proposed, how else does the ATF know what is owned by the trust?

Legally you should have assigned the 6 items to the trust before you sent in the applications.

[Libertarian_Geek]

I havent sent the NFA I copy of my updated assignment sheet since like 6 stamps ago. Every time I print it out I used the old one on my computer since I dont feel like updating it. The one in my safe thats the original copy has all the correct updates done. So far it hasnt been a problem I dont think the examiners look in the database and check all your approved stamps and make sure it matches your schedule A.

They don't but they do perform audits and when they find discrepancies they are dealt with.

So, in the future the ATF might audit my paperwork and ask for an updated Schedule A?

The reason I ask is that I just had 6 NFA items approved at basically the same time period, but the trust I sent in only listed a one dollar bill to make the trust legal.

Now I do have an updated Schedule A attached to my copy of my Trust, but it has never been sent to the ATF.

Will the ATF ask for an updated Schedule A in the future?

I have 3 schedules (A, B & C) in my NFA trust. B & C are blank, but my examiner requires me to include them regardless.

[jmhallrn]

I was still a bit confused about this, so I contacted my lawyer rather than pester you guys. According to him, my trust us set up to use individual assignment sheets rather than a schedule A or schedule of assets. He also provided this link that I thought I'd share.

http://www.guntrustlawyer.com/2011/06/s ... sheet.html

[stl929]

I am interested in setting up a NFA trust and have been researching posts here. I am also a CPA (but my specialty is not trusts) and I have never seen a trust document that shows a Schedule A listing all assets owned by the trust. I belive this schedule shows how the trust was initially funded. The trust is actually funded by transferring title of the assets to the trust. I don't think Schedule A of the trust agreement needs to be updated every time new assets are transferred into the trust. Any attorneys here that can verify this?

[LawBob]

Your trust does NOT need a sch A. I've written dozens of trusts and never use a sch a.


If your trust references a Sch A then it's part of the trust. It's used for convenience purposes to reference trust property already transferred. It's a good idea to enumerate the property held in trust (the "trust" owns nothing, the trustee does in accordance w the trust guidelines).

It's illogical to reference something that "will be" transferred.

"After" the transfer you add the prop to the sch a.

[rimshaker]

I was still a bit confused about this, so I contacted my lawyer rather than pester you guys. According to him, my trust us set up to use individual assignment sheets rather than a schedule A or schedule of assets. He also provided this link that I thought I'd share.

http://www.guntrustlawyer.com/2011/06/s ... sheet.html

I used the same lawyer for my basic trust. Goldman's trusts are very thorough, yet simple. No schedule A to deal with, just an assignment sheet for each new transfer. And no need to submit any prior assignment sheets with a new transfer.

[dtom29]

Your trust does NOT need a sch A. I've written dozens of trusts and never use a sch a.


If your trust references a Sch A then it's part of the trust. It's used for convenience purposes to reference trust property already transferred. It's a good idea to enumerate the property held in trust (the "trust" owns nothing, the trustee does in accordance w the trust guidelines).

It's illogical to reference something that "will be" transferred.

"After" the transfer you add the prop to the sch a.

It's illogical not to add something that the Trust owns...But you are just waiting to possess. Once the Trust/Trustee pays for the item the Trust owns it.

[Bendersquint]

Your trust does NOT need a sch A. I've written dozens of trusts and never use a sch a.


If your trust references a Sch A then it's part of the trust. It's used for convenience purposes to reference trust property already transferred. It's a good idea to enumerate the property held in trust (the "trust" owns nothing, the trustee does in accordance w the trust guidelines).

It's illogical to reference something that "will be" transferred.

"After" the transfer you add the prop to the sch a.

It's illogical not to add something that the Trust owns...But you are just waiting to possess. Once the Trust/Trustee pays for the item the Trust owns it.

Nailed it DTOM!

Just because the federal application isnt approved doesnt mean you don't own it, you just cant legally possess it yet.